A major tech milestone is coming to Cambridge, Ontario, with CPP Investments—the Canada Pension Plan Investment Board—backing a $225 million hyperscale data centre. This massive project will power next-generation AI and cloud computing, positioning Canada as a key global tech hub.
The facility is already fully leased to a GPU-focused AI cloud provider, meaning it will be put to work the moment it’s ready. Let’s look into what this investment means, who’s involved, and why it’s a big deal for Canada’s tech future.
Hyperscale
A hyperscale data centre is a giant, high-capacity facility that stores, processes, and distributes vast amounts of data. It’s the kind of infrastructure used by AI platforms, cloud services, and large-scale applications like social media networks.
This one in Ontario has a planned capacity of 54 megawatts (MW)—enough power to run extremely demanding AI and GPU workloads.
Investors
Two major players are funding the project equally:
| Investor | Contribution | Role |
|---|---|---|
| CPP Investments | $225 million (50%) | Construction loan + long-term stake |
| Deutsche Bank Private Credit & Infrastructure | $225 million (50%) | Lead lender for balance of financing |
This joint funding covers the full build cost, ensuring no delays in completion.
Occupancy
Before the first brick was laid, the entire building was leased to a major AI cloud provider specializing in GPU-based computing. This tenant will use the centre for AI model training, large-scale machine learning, and advanced data processing.
Importance
CPP Investments’ head of Real Assets Credit, Geoffrey Souter, says the deal reflects surging demand for:
- Cloud storage capacity
- Data-driven services
- Artificial intelligence infrastructure
Ontario’s tech ecosystem—particularly around Toronto and Cambridge—is growing rapidly. This facility will help Canada stay ahead in AI research and tech innovation.
Developers
The project is being developed by:
- Related Digital
- TowerBrook Capital Partners
- Ascent
All three are experienced in large-scale digital infrastructure projects, ensuring the build meets high performance and security standards.
Global Strategy
This isn’t CPP Investments’ first move into data centres. Their portfolio includes similar projects across:
- North America
- South America
- Asia-Pacific (including Australia)
- Europe
CPP also invests in publicly traded companies that own and operate data centres globally, including here in Canada.
Canadian Impact
The investment benefits Canadians in several ways:
| Benefit | Details |
|---|---|
| Tech Innovation | Boosts AI and GPU-based computing capacity |
| Job Creation | Supports construction and long-term tech roles |
| Pension Growth | Secures steady income from a leased facility |
| Market Strength | Expands Canada’s role in global tech infrastructure |
By channeling pension funds into cutting-edge technology projects, CPP is aiming for long-term returns while supporting economic growth.
The $225 million AI data centre deal shows Canada is ready to meet the future of AI head-on. With full occupancy from day one, experienced developers, and strong financing partners, this Cambridge project is set to become a cornerstone of Canada’s digital economy.
FAQs
Where is the new AI data centre?
Cambridge, Ontario, Canada.
How much is CPP Investments funding?
$225 million, covering 50% of the project cost.
Who is the tenant?
A GPU-focused AI cloud company.
What size is the facility?
54 megawatts capacity.
Why is this project important?
It strengthens Canada’s AI and cloud infrastructure.
